Money’s nice, but I’d rather Innovyze

Christopher Gasson explains why EQT’s $270 million acquisition of the watershed management software company is so significant.

I suspect that one day Stantec will deeply regret selling Innovyze. For now, it seems like a great deal. Last year, Stantec bought MWH Global, which included Innovyze, for $795 million. Now EQT has paid $270 million for the hydraulic modelling software company which contributed just $30 million to MWH Global’s $1.3 billion revenue. The deal means Stantec is getting back one third of the...